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HomeMy WebLinkAbout022521 RES - 03/26/1996RESOLUTION AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO EXECUTE A MASTER EQUIPMENT LEASE/PURCHASE AGREEMENT WITH DIVERSIFIED LENDERS, INC. TO FINANCE $1,771,000 OF THE PURCHASE PRICE FOR THE UTILITY CUSTOMER INFORMATION AND BILLING SYSTEM AND RELATED SERVICES; AND AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO EXECUTE SUCH OTHER DOCUMENTS AS MAY BE NECESSARY OR APPROPRIATE TO IMPLEMENT THIS MASTER EQUIPMENT LEASE/PURCHASE AGREEMENT, INCLUDING AN ESCROW AGREEMENT BETWEEN THE CITY, DIVERSIFIED LENDERS, INC., AND NATIONSBANK OF TEXAS, N.A. WHEREAS, the City Council has determined that it is necessary for the City to procure a Customer Information and Utility Billing System and related services from H.T.E., Inc.; and WHEREAS, the City Council has also determined that it is appropriate to finance $1,771,000 of the purchase price for the Customer Information and Utility Billing System and related services through a lease/purchase agreement with Diversified Lenders, Inc., NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. That the City Manager or his designee is authorized to execute a master equipment lease/purchase agreement with Diversified Lenders, Inc. to finance $1,771,000 of the purchase price for the Utility Customer Information and Billing System and related services. SECTION 2. That the City Manager or his designee is authorized to execute such other documents as may be necessary or appropriate to implement this master equipment lease/purchase agreement, including an escrow agreement between the City, Diversified Lenders, Inc., and NationsBank of Texas, N.A. ATTEST: Armando Chapa, City Secr ' ary THE CITY OF CORPUS CHRISTI MAYOY RHODES APPROVED: a2 DAY OF 410 -trek , 1996 JAMES R. BRAY JR. CIT TORN�Y By: %� 1 toMichael L. Scanlon Assistant City Attorney MS5000 080 bak March 22, 1996 (8.42am) T 0•00'" Corpus Christi, Texas Z1 day of LICade 1A , 19 (1 The above resolution was passed by the following vote: Mary Rhodes Dr. Jack Best Betty Black Melody Cooper Tony Heldenfels Betty Jean Longoria John Longoria Edward A. Martin Dr. David McNichols \forms\066 IJ) lJ 0 0925.31 CITY OF CORPUS CHRISTI, TEXAS (2UCLIFI(ATION OF FUNDS 7 (City Charter Article IV Section &R) March 22, 1996 I certify to the City Council that $ 220,581.70 , the amount required for the contract, agreement, obligation or expenditures contemplated in the above motion ,and foregoing cathalaras is in the Treasury of the City of Corpus Christi to the credit of: Fund No. and Name See below Project No. See below Project Name See below from which it is proposed to be drawn, and such money is not appich,riated for other purpose. Water Fund 141-361-541.99-499 Reserve Appropriation $83,655.83 Gas Fund 106-362-532.99-499 Reserve Appropriation $63,478.34 Wastewater Fd 109-363-543.99-499 Reserve Appropriation $43,095,71 General Fund 102-901-521.99-499 Reserve Appropriation $30,351.82 FIN 2-55 Revised 7/31/69 , 19 74 any /14:6 -172411 -- Director Council meeting dated March 26, 1996 Current year funding of Utility Customer Billing System